Last month, the National Bureau of Statistics restrained industry-specific data upon publication of Purchasing Manufacturing indexes. Under the premise implying not enough resources were available to make such analysis public, the Chinese opted to suspend relevant information indicative of this year’s economic performance. As stated by the vice president of the China Federation of Logistics & Purchasing, “We now have 3,000 samples in the survey, and from a technical point of view, time is very limited — there are many industries, you know”. While Chinese provide zero point zone explanations, speculation concerning the reasons behind such measures continues to surge.https://support.fxcc.com/email/technical/01082013/

Upwards scenario: Possible upside penetration looks limited now to the next resistive barrier at 1.3288 (R1). Appreciation above this mark might gradually push the pair toward to next targets at 1.3304 (R2) and 1.3319 (R3) in potential. Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3252 (S1). Penetration below this mark would suggest next targets at 1.3238 (S2) and 1.3223 (S3).

Upwards scenario: Possible buying interest might push the pair to attack next resistive measure at 1.5187 (R1). Clearance here is required to resume upside formation, targeting marks at 1.5207 (R2) and 1.5226 (R3) later on today. Downwards scenario: On the other hand, loss of our support level at 1.5146 (S1) would open road for a market decline towards to our next target at 1.5128 (S2). Any further price weakening would then be limited to final support for today at 1.5109 (S3).

Upwards scenario: Risk of further price appreciation is seen above the next resistance level at 98.46 (R1). Clearance here would suggest next intraday target at 98.66 (R2) and then final aim locates at 98.86 (R3). Downwards scenario: On the other hand, clearance of our support at 98.11 (S1) is required to determine negative intraday bias and enable lower target at 97.90 (S2) and then any further market depreciation would suggest final support at 97.69 (S3).